President Trump said the crypto industry was once “mocked and dismissed and counted out,” but now could become a big buyer of U.S. government debt.

The stablecoin bill, known as the Genius Act, and the crypto market structure bill, known as the Clarity Act, both received notable bipartisan support. Democratic lawmakers joined with Republicans to pass the stablecoin bill 308-122.

Trump signed into law the GENIUS Act on Friday – a landmark piece of legislation that establishes federal regulations surrounding digital currency.

Congress has taken an historic step toward regulating cryptocurrency, with the House passing the GENIUS Act following days of political drama. This bill is the first major crypto legislation ever approved by Congress.

GENIUS Act has been signed into law by President Trump, establishing federal oversight for stablecoins with 1:1 reserve backing requirements.

The crypto sector's market value hit $4 trillion on Friday, according to CoinGecko, marking a milestone that reflects its shift from a nascent asset class to a central part of the global investment landscape.

United States Congressional lawmakers debate key pieces of crypto regulatory bills on the floor of the House of Representatives.

A Republican clash over a CBDC ban momentarily delayed the industry's two legislative priorities, but the House is planning a long evening to make up for it.